Saturday, October 1, 2022 Oct 1, 2022
57° F Dallas, TX
Deal Ticker

New 300,000-Square-Foot Office Project Coming to Plano’s Legacy Business Park

Plus: Duke Realty Corp.fills up its portfolio, Granite kicks off a second project in Southlake, and more.
By Taysha Billinger |
Image
Courtesy CBRE

The City of Plano approved plans by real estate investment firm PRP Real Estate’s for 6301 Headquarters Drive. The build-to-suit is a 300,000-square-foot office project in the epicenter of Legacy Business Park. Conceptual designs have been completed by HKS, and construction will begin once permits are secured. CBRE’s Dennis Barnes will market the building.

“Companies have realized that the collaboration that happens when employees are in the office is unmatched, so they are prioritizing top-of-the-line office amenities that give them the opportunity to tailor the office space specifically to their corporate needs,” Barnes said. “PRP meticulously designed 6301 Headquarters Drive to be a first-class experience, and it will fill a tremendous need in our market for large-scale office users.”

Industrial

Duke Realty Corp. has inked 10 new lease agreements and renewals totaling 1.3 million square feet of industrial space. The activity includes an expansion with Genera Corp. for 260,819 square feet and a new lease with Dynamic Glass Products for 116,980 square feet. The deals take Duke Realty’s 17 million-square-foot Dallas portfolio to nearly 100 percent leased.

Recent transactions also include a lease with SWS for 43,650 square feet in Garland and a renewal with DAP for 130,900 square feet, also in Garland.

“Across the country, we are seeing historically high demand for industrial space from multiple demand drivers, such as e-commerce and expanding inventory strategies, as well as the traditional distribution of goods in the supply chain,” said Jeff Thornton, Duke Realty’s regional senior vice president and Texas market leader. “With a very strong regional economy in Texas and our locations near population density and key transportation corridors, our primary submarkets are realizing vacancy rates of 2 to 3 percent in Dallas and approximately 6 percent in Houston. These key submarkets are experiencing growth in asking rents year-over-year of almost 10 percent.”

Duke Realty’s Matt Hyman and Bryan Parker worked with Carter Fournier at Westway Realty; Mark Russell at Newmark of Houston; Patrick Rollins at CBRE; Conrad Madsen and Greg Nelson at Paladin Partners; Mike Brandon at ProVenture Commercial; Anthony Waltier at KBC Advisors; Andy Goldston and Scott Jessen at Citadel Partners; and Stephen Schneidau, David Eseke, and Clay Balch at Cushman & Wakefield to secure the recent leases in North Texas and Houston.

The Dufresne Spencer Group leased 293,705 square feet at the Fed Carter Distribution Center in Fort Worth. Thomas Grafton and Matt Carthey with Holt Lunsford Commercial represented PGIM Real Estate in the transaction. Brad Murchison and James Ewing with Colliers represented the tenant. 

SEKO Worldwide leased 143,240 square feet at the Speedway Logistics Crossing in Justin. Carthey and Jennings with Holt Lunsford Commercial represented the landlord, Frank Puskarich with Newmark represented the tenant. 

Electrique Boutique has renewed 10,343 square feet of light manufacturing space in Northwest Crossing A located at 2152 W. Northwest Highway in Dallas. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Kyle Espie, senior associate, represented the landlord, ALP-ARC II NW Crossing Operating Co., in the direct deal.

All Printing Resources renewed its lease of 10,000 square feet at Carter Business Center-7873-7889 Will Rogers in Fort Worth. Grafton, Jennings, and Carthey with Holt Lunsford Commercial represented the landlord Michael Newsome with NAI Robert Lynn represented the tenant. 

360 Photo Booth Studios renewed 7,992 square feet of warehouse space at 1013 Avenue M in Grand Prairie. Pafford represented the tenant. Brian Gilchrist of CBRE represented the landlord, First Industrial.

Mark Thomas Auctioneers renewed its lease of 6,000 square feet at Riverbend Business Park in Fort Worth. William Wilson and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Properties. 

Advanced Microcontrols renewed its lease of 2,700 square feet at Riverbend Business Park in Fort Worth. William Wilson and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Properties. 

Bollinger Solutions Group renewed its lease of 2,700 square feet at Riverbend Business Park in Fort Worth. William Wilson and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Properties. 

Sterile Solutions leased 2,400 square feet at Riverbend Business Park, Fort Worth. William Wilson and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Properties. America’s Auto Auction Dallas renewed its lease of 1,000 square feet at Riverbend Business Park in Fort Worth. William Wilson and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Properties.

Office

Granite Properties has begun construction of Granite Place II at Southlake Town Square. The 143,500-square-foot, Class-A, five-story office building is pursuing LEED and Fitwel certifications. This is the second phase of the development; it will be built adjacent to Granite Place I, which was completed in 2017 and is 100 percent leased. 

Wooden Camera has leased 14,144 square feet of flex space at 10460 Miller Rd. in Dallas. The company’s new location features 5,925 square feet of office space and 8,219 square feet of production space for assembly and distribution. Paul Richter represented the tenant. Adam Jones and Ryan Wolcott of Stream Realty Partners represented the landlord.

Rollins HT renewed 5,717 square feet of office/warehouse space at  One Paddock Place located at 2214 Paddock Way in Grand Prairie. Michael W. Spain and Jim Ferris represented the landlord, Paddock Partnership. Alex Hrapkiewicz of JLL represented the tenant

LHCG leased 5,644 square feet of office space at 700 Highlander in Arlington. Jake Neal and Matt Carthey with Holt Lunsford Commercial represented the landlord, 700 Highlander Partners. Granville Jenkins with Swearingen Realty Group represented the tenant. 

Whitebox Real Estate recently represented Remark Enterprises in its lease negotiations at Hunter’s Glen Office Complex in Plano.  Evan Hammer of Whitebox represented the tenant on the transaction and Ethan Sommer and Eunice Doehring of Henry S Miller represented the landlord.

Retail

North Texas Lung & Sleep Center renewed its lease of 6,624 square feet at Stonegate in Fort Worth. Reilly Clark and Tracy Gray with Holt Lunsford Commercial represented the landlord. J. David Cason with Holt Lunsford Commercial represented the tenant. 

Integrity Land Title leased 1,371 square feet at Stonegate in Fort Worth. Clark and Gray with Holt Lunsford Commercial represented the landlord. 

Wayne Martin leased 1,066 square feet at Stonegate in Fort Worth. Reilly Clark and Tracy Gray with Holt Lunsford Commercial represented the landlord.

Related Articles

Image
Commercial Real Estate

Deadline Extended: D CEO’s Commercial Real Estate Awards

The program honors North Texas’ top projects, transactions, dealmakers, and industry leaders.
Image
Commercial Real Estate

Nominate Now: D CEO’s 2021 Commercial Real Estate Awards

A new category has been added to this year's program—which honors projects, deals, and industry executives—for emerging leaders under 40.
Image
Awards

Nominate Now: D CEO’s 2022 Commercial Real Estate Awards

A new category was added this year to highlight hospitality projects in the region.